Arabtec to hold fifth board meeting of 2017

Dubai

Arabtec Holding said it will hold its fifth board meeting of 2017 on May 1 to discuss issues that include its recapitalisation plan.

In a statement to the Dubai Financial Market, the construction firm said the meeting will discuss an update and seek certain approvals regarding the recapitalisation programme, which includes a Dh1.5 billion rights issue followed by capital reduction.

Arabtec share prices on Thursday ended the day flat at Dh0.9, which is still below the Dh1 mark at which the company will launch its rights issue.